Internet banking in Europe outstrips US, says Cap Gemini

Financial services firms in Europe are pushing harder than their North American counterparts to capture online market share, according to research from Cap Gemini Ernst & Young.

Europe is already ahead of the US when it comes to internet banking. In Europe, 4% of all banking transactions currently take place over the internet. This is expected to rise to 25% in 2003. In the US the current figure is 3% of transactions, projected to rise to only 12% in 2003.